The 'Goods and Services Tax' on yachts and aircraft is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' on yachts and aircraft is:

A. 28% plus cess

B. 12%

C. 18%

D. 5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Yachts and aircraft attract 28% GST plus cess.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The term 'Open Market Operations' refer to:

A. Lending by commercial banks to the public

B. Issuing new shares by companies

C. Buying and selling of government securities by the central bank

D. Buying and selling of goods in the open market by the government

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Correct Answer: Option C

Explanation:
Open Market Operations involve the purchase and sale of government securities by the central bank to regulate liquidity and money supply in the economy.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'International Monetary Fund' Poverty Reduction and Growth Trust provides:

A. military aid

B. concessional lending to low-income countries

C. trade subsidies

D. loans to developed countries

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Correct Answer: Option B

Explanation:
PRGT provides concessional lending to low-income countries.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'headline inflation' is the measure that:

A. only includes services

B. excludes all food items

C. excludes fuel

D. includes all items in the price index

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Correct Answer: Option D

Explanation:
Headline inflation includes all items in the price index.

This question belongs to: Economy GK Economy Set 1

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